The shares of Sagility India will debut on the exchanges on Tuesday. Ahead of the listing, the company's shares were trading with a GMP of Rs 0.3 in the grey market.

Considering the upper price band of Rs 30, the company's stock is expected to list at 1% at the bourses.

However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

The IPO of Sagility India received decent response from investors with an overall subscription of 3 times at close.

The Rs 2,106 crore IPO was entirely an offer-for-sale of 70.22 crore shares by the promoter, Sagility B.V., with no fresh issue component. All proceeds, excluding expenses, will go to the selling shareholder.

Sagility India provides technology-driven solutions to US healthcare payers and providers, including health insurance companies, hospitals, and medical device companies.

A total of 19 lakh shares have been reserved for Sagility employees at a Rs 2 discount on the final price. Additionally, 75% of the remaining shares are earmarked for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.

Sagility India reported a 47.5% decline in profit to Rs 22.3 crore for the quarter ending June 2024, primarily due to decreased operating margins and higher taxes. Revenue rose 9.6% to Rs 1,223.3 crore, but EBITDA fell by 26.4% to Rs 193.9 crore, with margins shrinking 777 basis points to 15.85%.

In FY24, Sagility’s net profit surged 59% to Rs 228.3 crore despite a dip in operating margin, bolstered by reduced finance costs and increased other income. Revenue grew 12.7% to Rs 4,753.6 crore, while EBITDA rose by 5.9% to Rs 1,088 crore, though margins declined by 150 basis points to 22.9%.

ICICI Securities, IIFL Securities, Jefferies India, and JP Morgan India acted as the lead managers for the IPO.

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